Law firm secures future of historic County Durham railway through acquisition
A Durham law firm has helped to secure the future of a local historic tourist attraction through its acquisition.
Swinburne Maddison, which is based in Durham City, supported the acquisition of the Weardale Railway by a subsidiary of The Auckland Project, rescuing it from administration.
The heritage railway, which dates back to 1842, runs between Eastgate and Bishop Auckland, and has created a range of seasonal jobs as well as attracting tourism to the area since it reopened in 2010.
Last year the railway experienced declining sales, with the Durham law firm appointed to look for a buyer, securing a finance package with administrator FRP Advisory.
Corporate and commercial partner at Swinburne Maddison, Martyn Tennant, commented: “One of our key strengths, as a law firm, is our innovative way of looking at problems and coming up with commercial solutions within a legal framework, which achieve the best results for our client.
“Ultimately, the future of the Weardale Railway is now secure, with this acquisition.
“The Auckland Project is investing heavily to create positive change for those visiting, working in and living in the Bishop Auckland area and we are delighted to have played our part in preserving this vital local heritage asset.”
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